Frequently asked questions relating to Torquay leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Torquay. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Torquay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I want to rent out my leasehold flat in Torquay. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease dictates relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Torquay do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
My wife and I purchased a leasehold house in Torquay. Conveyancing and TSB mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Torquay who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Torquay conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Torquay conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Torquay conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Torquay conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How many lease extensions has the firm carried out in Torquay in the last twenty four months?
We expect to complete the sale of our £375000 flat in Torquay in 5 days. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Torquay?
Torquay conveyancing on leasehold apartments usually necessitates administration charges raised by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Torquay
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a leasehold flat in Torquay, conveyancing was carried out 2009. How much will my lease extension cost? Corresponding properties in Torquay with an extended lease are worth £203,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2094
With just 69 years unexpired the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
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